2024-05-16 10:17Financial Performance - For Q1 2024, JD.com reported revenue of RMB 260 billion (USD 36 billion), an increase of 7.0% compared to Q1 2023[3] - Operating profit for Q1 2024 was RMB 7.7 billion (USD 1.1 billion), up from RMB 6.4 billion in Q1 2023[3] - Net profit attributable to ordinary shareholders for Q1 2024 was RMB 7.1 billion (USD 1 billion), with a net profit margin of 2.7%, compared to 2.6% in Q1 2023[3] - The diluted earnings per American depositary share for Q1 2024 was RMB 4.53 (USD 0.63), a 15.3% increase from RMB 3.93 in Q1 2023[3] - Revenue increased by 7.0% from RMB 243 billion in Q1 2023 to RMB 260 billion (USD 36 billion) in Q1 2024[9] - Operating profit increased by 19.8% from RMB 6.4 billion in Q1 2023 to RMB 7.7 billion (USD 1.1 billion) in Q1 2024, with an operating margin of 3.0%[10] - Net profit attributable to ordinary shareholders rose by 13.9% from RMB 6.3 billion in Q1 2023 to RMB 7.1 billion (USD 1 billion) in Q1 2024[11] - Free cash flow for the twelve months ending March 31, 2024, was RMB 50.6 billion (USD 7.0 billion), compared to RMB 19.0 billion in the same period last year[16] - The company reported a net cash flow from investing activities of RMB 28.4 billion (USD 3.9 billion) in Q1 2024[15] - The company reported a net cash flow from operating activities of RMB (11,315) million, compared to RMB (21,607) million in the same quarter of 2023, indicating a significant improvement[33] - JD.com’s EBITDA for the first quarter of 2024 was RMB 10,787 million, up from RMB 9,499 million in the first quarter of 2023, reflecting a growth of about 13.5%[36] Shareholder Returns - JD.com repurchased a total of 98.3 million Class A ordinary shares for a total of USD 1.3 billion from January 1 to May 15, 2024[5] - The company has returned over USD 2.1 billion to shareholders through dividends and share repurchases over the past ten years[6] Business Segments and Operations - The company has restructured its reporting segments into JD Retail, JD Logistics, and New Businesses to better reflect its operational strategy[17] - JD Retail revenue was RMB 212.36 billion, with a year-over-year change of (2.4)% for Q1 2023 and 6.8% for Q1 2024[20] - JD Logistics revenue increased by 34.3% year-over-year to RMB 36.73 billion for Q1 2023, while new business revenue decreased by 6.5%[20] - The company plans to continue expanding its retail and logistics services to enhance operational efficiency and innovation[23] - The company is focused on developing new technologies and products to improve customer experience and service offerings[23] Marketing and Expenses - Marketing expenses increased by 15.6% from RMB 8 billion in Q1 2023 to RMB 9.3 billion (USD 1.3 billion) in Q1 2024[10] - Research and development expenses decreased by 3.6% from RMB 4.2 billion in Q1 2023 to RMB 4 billion (USD 0.6 billion) in Q1 2024[10] Cash and Assets - Cash and cash equivalents totaled RMB 179.3 billion (USD 24.8 billion) as of March 31, 2024, down from RMB 197.7 billion at the end of 2023[13] - The company's cash and cash equivalents increased from RMB 71,892 million as of December 31, 2023, to RMB 81,626 million as of March 31, 2024, representing a growth of approximately 10.2%[27] - Short-term investments decreased from RMB 118,254 million to RMB 90,371 million, a decline of about 23.6%[27] - The total current assets decreased from RMB 307,810 million to RMB 284,072 million, a reduction of approximately 7.7%[27] - Non-current assets totaled RMB 321,148 million as of March 31, 2024, slightly down from RMB 321,148 million as of December 31, 2023[27] - The total assets of the company decreased from RMB 628,958 million to RMB 601,822 million, a decline of about 4.3%[27] Financial Metrics and Ratios - The company emphasizes the importance of non-GAAP financial measures for evaluating operational performance and future prospects[25] - The management believes that non-GAAP financial indicators provide useful information to both management and investors[25] - The company has highlighted the limitations of non-GAAP financial measures, noting that they may not reflect all revenue and expense items affecting operations[25] - The company is committed to providing a comprehensive view of financial data, urging investors to consider all financial indicators in their assessments[25] - Total revenue for JD.com increased to RMB 260,049 million for the three months ending March 31, 2024, up from RMB 242,956 million for the same period in 2023, representing a growth of approximately 7.5%[29] - The company's operating profit for the three months ending March 31, 2024, was RMB 7,700 million, up from RMB 6,427 million in the same period of 2023, indicating a growth of approximately 19.8%[29] - The company’s total liabilities to total equity ratio improved to 1.12 as of March 31, 2024, down from 1.16 as of December 31, 2023, indicating a strengthening of the company's financial position[28] Upcoming Events - JD.com will hold a conference call on May 16, 2024, to discuss its financial performance for Q1 2024[21]